An investigation on behalf of investors of ExactTarget Inc (NYSE:ET) in connection with the proposed takeover was announced and NYSE:ET stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 06/10/2013 -- An investigation on behalf of investors in ExactTarget Inc (NYSE:ET) shares was announced concerning whether the offer by Salesforce.com to acquire ExactTarget Inc for a value of approximately $33.75 per NYSE:ET share and the takeover process are unfair to investors in ExactTarget shares.
Investors who purchased shares of ExactTarget Inc (NYSE:ET) prior to June 4, 2013, and currently hold any of those NYSE:ET shares have certain options and should contact the Shareholders Foundation at mail(at)shareholderasfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of ExactTarget Inc breached their fiduciary duties owed to NYSE:ET investors in connection with the proposed acquisition.
On Jun. 4, 2013, Salesforce.com (NYSE: CRM) and ExactTarget (NYSE: ET) announced that they have entered into an agreement under which salesforce.com will acquire ExactTarget in a transaction valued at approximately $2.5 billion. Under the terms of the agreement, salesforce.com will commence a tender offer for all outstanding shares of ExactTarget for $33.75 per share, in cash.
However, given that at least one analyst has set the high target price for NYSE:ET shares at $39.00 per share, the investigation a law firm concerns whether the offer is too low for NYSE:ET stockholders. More specifically, the investigation focuses on whether the ExactTarget Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
ExactTarget Inc reported that its annual Total Revenue rose from $95.44 million in 2009 to $292.27 million in 2012 and that its Net Loss of $35.44 million in 2011 declined in 2012 to $20.96 million.
NYSE:ET shares closed on June 7, 2013, at $33.62 per share.
Those who are current investors in ExactTarget Inc (NYSE:ET), have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Joelle Day
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com